The Nonphysical Attributes of a Product, Including Product Warranties, Financing

question 68

Multiple Choice

The nonphysical attributes of a product, including product warranties, financing, product support, and after-sale service are called the:

• A)augmented product.
• B)product mix.
• C)customer lifetime value.
• D)brand service.
• E)core customer value.

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Definitions:

SST

Sum of Squares Total (SST) refers to the total variance in a set of observations, measuring the overall deviation of individual cases from the mean.

SSB

Sum of Squares Between groups; a measure used in statistical analysis to quantify variations among group means.

SSE

Stands for Sum of Squared Errors, a measure used to quantify the discrepancy between the data and an estimation model.

Two-Tail

In statistics, a two-tail test is a method in which the critical area of a distribution is two-sided and tests whether a sample is greater than or less than a certain range of values.